Cubist Systematic Strategies LLC Sells 65,227 Shares of Hilltop Holdings Inc. $HTH

Key Points

• Cubist Systematic Strategies LLC decreased its stake in Hilltop Holdings by 42.6%, selling 65,227 shares in the 1st quarter, now owning 88,044 shares valued at approximately $2.68 million.
• Hilltop reported earnings per share (EPS) of $0.57 for the most recent quarter, exceeding analyst estimates of $0.41, although revenue fell short at $303.31 million against a forecast of $310.18 million.
• The company announced a quarterly dividend of $0.18 per share, with a dividend yield of 2.0% and a payout ratio of 32.29%.

Cubist Systematic Strategies LLC decreased its holdings in Hilltop Holdings Inc. (NYSE:HTH - Free Report) by 42.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,044 shares of the financial services provider's stock after selling 65,227 shares during the period. Cubist Systematic Strategies LLC owned 0.14% of Hilltop worth $2,681,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HTH. SouthState Corp bought a new position in shares of Hilltop in the first quarter valued at approximately $56,000. CWM LLC boosted its position in shares of Hilltop by 134.4% in the first quarter. CWM LLC now owns 2,811 shares of the financial services provider's stock valued at $86,000 after acquiring an additional 1,612 shares during the period. KBC Group NV boosted its position in shares of Hilltop by 18.7% in the first quarter. KBC Group NV now owns 3,111 shares of the financial services provider's stock valued at $95,000 after acquiring an additional 490 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Hilltop during the first quarter valued at approximately $170,000. Finally, Point72 Asset Management L.P. purchased a new position in Hilltop in the 4th quarter worth approximately $193,000. 57.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Hilltop from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.00.

Hilltop Price Performance

HTH stock traded up $0.21 during midday trading on Thursday, reaching $34.98. The company had a trading volume of 305,115 shares, compared to its average volume of 442,541. Hilltop Holdings Inc. has a 1 year low of $26.67 and a 1 year high of $36.13. The company has a market capitalization of $2.20 billion, a P/E ratio of 15.69 and a beta of 0.88. The firm has a 50-day moving average price of $32.29 and a 200-day moving average price of $30.82.

Hilltop (NYSE:HTH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.16. The firm had revenue of $303.31 million during the quarter, compared to analyst estimates of $310.18 million. Hilltop had a net margin of 8.90% and a return on equity of 6.46%. During the same period in the previous year, the business posted $0.31 EPS. On average, equities analysts predict that Hilltop Holdings Inc. will post 1.51 EPS for the current year.

Hilltop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 15th. Hilltop's payout ratio is presently 32.29%.

Insider Buying and Selling at Hilltop

In other Hilltop news, Chairman Jonathan S. Sobel acquired 10,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of $35.36 per share, for a total transaction of $353,600.00. Following the acquisition, the chairman owned 127,429 shares in the company, valued at $4,505,889.44. The trade was a 8.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 60,000 shares of company stock valued at $2,022,800. Insiders own 29.90% of the company's stock.

Hilltop Profile

Hilltop Holdings Inc provides business and consumer banking services. It operates through three segments: Banking, Broker-Dealer, and Mortgage Origination. The Banking segment offers savings, checking, interest-bearing checking, and money market accounts; certificates of deposit; lines and letters of credit, home improvement and equity loans, loans for purchasing and carrying securities, term, agricultural and commercial real estate, equipment loans, and other lending products; and mortgage, commercial and industrial loans, and term and construction finance.